Canolia oil and it's health claims weren't made until 80's. Canolia isn't really a plant...it's a trade name for "rapeseed oil" re branded by marketing as "Canoila" Canada oil.

At high temps in frying it breaks down to fishy smell.
Yes, you can use it for baking..But I seriously doubt the health claims...in as much as in the 70's we switched to hydrogenated Butter substitutes to avoid the element of "Fat"...and substituted trans-fat in frying...and now we move 'left..and move right" depending on what the Gods say for the demon element of the day.

Correct as far as it goes, but it goes MUCH further than that. First it referred to baking NOT frying. Second is Canola is much better for you but will smoke at HIGH temperatures. At moderate temps it is fine. So it can be used for most everything except stir fries, and I still use it for that but keep the heat a little lower.
I have CHF (congestive heart failure) as well as peripheral artery disease. My heart Dr. wants me to have at least 2 Tablespoons of Canola oil a day in my diet. To the point of if I am not frying anything or eating anything containing canola oil he wants me to add it to something so I get it into my diet to lower my LDL!

Canola oil is a more heart friendly choice than vegetable oil. It also has cross uses ranging from salad dressing to baking and frying. However, care should be taken when choosing between different brands of canola oil. Canola oil is made from rapeseed, which is often sprayed with pesticides. So try to find a brand that is organic and pesticide free.

Since canola oil can help lower your bad cholesterol while raising your good cholesterol and it can be used for multiple purposes, it is a healthier choice for you than vegetable oil is. By choosing your oil carefully you can help lower your risk for disease, so by all means choose canola.

Just to clarify, Canola is an acronym for "Canadian Oil, Low Acid", it comes from the canola flower, it is not the same as rapeseed. Canola is a hybrid plant, the goal was to remove the elements of rapeseed that are not good for our health. Today, nearly all canola grown is genetically modified and, true, pesticides are used almost universally. It is controversial whether the "organic" label actually protects you from GMO products, but most industrial fertilizers will be eliminated by going organic. GMO may not be an issue for every reader here, but these are the kind of things I like to know about, so just thought I'd share.

I'd be more inclined to use Pure Olive Oil, not necessarily Extra Virgin. If you want the oil to be taste neutral, pure olive oil is a good choice. I don't like to use either vegetable or Canola, unless there aren't other options. The debate above is a little heated, and I'd like to see it toned down a bit. There are lots of pros and cons to both Canola and Vegetable Oil. Personally, I limit their use because I am wary of GMO. You should do your own research on Canola, Vegetable and other oils before making an absolute decision one way or the other.

I use coconut oil relatively frequently, too. It has different characteristics, and I like to save it for a recipe-like a simple pound cake where it can really shine.

How do you define "vegetable oil?" As far as I can see it is oil from any cheap non-animal source, vaguely labeled so that the bottler can source at the lowest cost. When you buy canola oil, you know exactly where the oil comes from. If you buy USDA Organic, you know it meets specific standards, and genetic modification is prohibited. The monkey wrench is the drift of pollen from GMO seed so that even organic sources can be contaminated. (Monsanto will sue if such seed is discovered, although the grower has not knowingly planted it. Monsanto sued 144 farmers last year for this "theft.") I mix my canola oil with pure olive oil for most of my cooking.